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Deal Detail
Harris Freeman & Co (Tea Business) to TreeHouse Foods, Inc.
EV / LTM EBITDA
8.5x
EV / LTM Sales
-
Enterprise Value
-
Primary Source
Lazard
Comparable Transactions
Packaged Foods transactions announced in the five years to December 2024. 37 with a disclosed multiple.
| Date | Target | Acquiror | Enterprise Value | EV/Sales | EV/EBITDA | Type |
|---|---|---|---|---|---|---|
| Sep 2024 | Yoplait and certain other brands | Lactalis | - | - | 8.4x | Strategic |
| Aug 2024 | Kellanova | Mars, Incorporated | $36.4B | - | 16.4x | Strategic |
| Jun 2024 | Summer Garden Food Manufacturing | Lassonde Industries, Inc. | - | - | 8.4x | Strategic |
| Jun 2024 | Britvic plc | Carlsberg UK Holdings | - | - | 13.1x | Strategic |
| Feb 2024 | World Health Brands | Sababa / Martin Franklin | $626M | 1.1x | 8.0x | Financial |
| Dec 2023 | Shearer's Foods | Clayton Dubilier & Rice | - | - | 10.0x | Financial |
| Oct 2023 | Sugar Foods Corporation | Pritzker Private Capital | - | - | 10.0x | Financial |
| Oct 2023 | SunOpta's Frozen Fruit Assets | Nature's Touch Frozen Foods LLC | - | - | 9.4x | Strategic |
| Oct 2023 | Orkla Food Ingredients | Rhone | $1.4B | 0.9x | - | Financial |
| Sep 2023 | Hostess Brands | JM Smucker | $5.5B | - | 17.9x | Strategic |
| Sep 2023 | Costa Group Holdings | Paine Schwartz Partners | - | - | 10.9x | Financial |
| Aug 2023 | Alphia Inc. | PAI Partners | - | - | 10.7x | Financial |
| Aug 2023 | Sovos Brands | Campbell Soup | - | - | 19.8x | Strategic |
| Jan 2023 | Kerry Group plc | Irca S.p.A. | $500M | 1.2x | 12.2x | Strategic |
| Jan 2023 | Birch Benders (Sovos Brands, Inc.) | Hometown Food Company | $40M | 1.0x | - | Strategic |
| Dec 2022 | Bollo International Fruits | The Natural Fruit Company (Fremman and GPF Capital) | - | - | 10.0x | Strategic |
| Nov 2022 | AgroFresh Solutions, Inc. | Paine Schwartz Partners | - | - | 9.1x | Financial |
| Oct 2022 | Denali Ingredients | Orkla Food Ingredients | $200M | 2.0x | 13.9x | Strategic |
| Aug 2022 | TreeHouse's Meal Prep Business | Investindustrial | $950M | - | 13.6x | Financial |
| Jun 2022 | Natra S.A. | CapVest Partners LLP | $503M | 1.1x | - | Financial |
| May 2022 | General Mills, Inc. (Helper and Suddenly Salad) | Eagle Family Foods Group (Kelso & Company) | $610M | 2.6x | - | Strategic |
| Apr 2022 | Westrock Coffee Company | Riverview Acquisition Corp | - | - | 14.5x | Financial |
| Nov 2021 | Dot's Pretzels | Hershey | - | - | 15.1x | Strategic |
| Apr 2021 | Dessert Holdings | Bain Capital | - | - | 13.0x | Financial |
| Apr 2021 | Olde Thompson | Olam Food Ingredients, Olam International (Olam Food Ingredients) | $950M | - | 11.5x | Strategic |
| Mar 2021 | Aryzta AG (North America) | Lindsay Goldberg | - | - | 13.6x | Financial |
| Feb 2021 | Dole Food Company, Inc. | Total Produce plc | - | - | 7.7x | Strategic |
| Feb 2021 | Planters | Hormel Foods Corporation | $3.4B | - | 12.5x | Strategic |
| Jan 2021 | C.J. Vitner Company (Certain Assets) | Utz Quality Foods | - | - | 5.9x | Strategic |
| Dec 2020 | Wholesome Sweeteners Incorporated | Whole Earth Brands, Inc. | $180M | 0.9x | 7.8x | Strategic |
| Nov 2020 | Cholula Hot Sauce | McCormick & Company Inc. | $800M | - | 25.0x | Strategic |
| Nov 2020 | Swerve, L.L.C. | Whole Earth Brands, Inc. | $80M | 2.2x | 14.8x | Strategic |
| Oct 2020 | Crisco (from J.M. Smucker Co.) | B&G Foods, Inc. | $550M | 2.0x | 7.9x | Strategic |
| Aug 2020 | Birch Benders, LLC | Sovos Brands, Inc. | $146M | 2.5x | - | Strategic |
| Jun 2020 | Utz Brands | Collier Creek Holdings | $1.6B | - | 13.0x | – |
| Apr 2020 | Pure Circle, Inc. | Ingredion Inc. | $317M | 2.6x | - | Strategic |
| Jan 2020 | Frulact S.A. | Ardian | $128M | 1.3x | - | Strategic |
| Mean | 1.6x | 12.1x | ||||
| Median | 1.3x | 11.8x |
All Observations
Source-specific multiples and notes for this transaction.